A recent SuperConcepts survey comprising 2,600 SMSFs with assets of $3.6 billion indicates that short-term deposits dropped from 19.8 per cent at 30 June 2017 down to 17.3 per cent at 30 June 2018.
SuperConcepts executive manager of SMSF technical and strategic services Phil La Greca said many SMSF trustees saw the change to the contribution rules as their last opportunity to make large non-concessional contributions to superannuation.
“These monies were then mainly invested in the Australian equities sector,” he said.
“When stripping out performance, the cash allocation to Australian Equities increased by 1.5 per cent due to investment from these cash amounts.”
In addition, CBA recently found SMSFs have dropped another favourite in the way of blue-chip holdings, and are now turning their attention to mid and small cap companies.
